Judgment Search Results Home > Cases Phrase: sashastra seema bal act 2007 section 40 offences relating to force court Court: mumbai Page 12 of about 547 results (1.598 seconds)

Assistant Commissioner of Vs. Hinditron Services (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)99ITD479(Mum.)

..... no evaluation, no determination as to what portion thereof, if any, was transferred. hence, there is no transfer within meaning of section 2(47) of income-tax act, 1961 (vi) what the assessee has surrendered is only one of many agencies/distributorships. there was no stoppage of business. it continued yielding higher income in subsequent years ..... from that going business; that therefore the sum was an income receipt. held also, that the language of section 10(5a) of the indian income-tax act did not impliedly indicate that the sum was a capital receipt. that sub-section was obviously introduced to prevent the abuse of managing agency agreements being terminated on ..... course of business, any compensation received for its termination would be a revenue receipt, irrespective of whether its performance was to consist of a single act or a series of acts spread over a period. there is a difference between a payment made as compensation for the termination of an agency contract and an amount paid .....

Colorcraft Vs. the Ito

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)105ITD599(Mum.)

..... issue of unsecured loans, the audit report, vide annexure-o, provides the details of loans, accepted by the assessee, exceeding the limit prescribed in section 269ss of the act (pages-30 and 31 of the paper book). it also appears that the assessing officer asked the assessee to furnish the details of unsecured loans along with confirmation letters ..... duty of the assessing officer to apply his mind to the evidences so collected and ascertain whether such material is sufficient and in consonance with the provisions of the act. he then drew our attention to the details filed by the assessee and reference to its claim under section 40a(2)(b). according to him, the details of ..... order could not be said to be erroneous.5. proceeding further, it was submitted that necessary details in respect of each loan falling under section 269ss of the act were furnished in annexure-0 to the audit report. then he referred to page-39 of the paper book to point out that assessing officer had made enquiries vide .....

Sushmita Holdings Ltd. Vs. Joint Cit

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... supported the orders of the departmental authorities.26. we have considered the rival submissions including the judicial authorities cited by them. section 37 of the income tax act allows deduction for any expenditure (not being expenditure of the nature described in sections 30 to 36 and not being in the nature of capital expenditure or ..... under section 36(1)(iii). the legal position with regard to the allowability of interest on borrowed capital under section 36(1)(iii) of the income tax act is fairly well-settled. section 36 occurs in chapter iv, which deals with the computation of income under the head "profits and gains of business or profession ..... in the preceding paras, i hold that the revenue has legally correctly and rightly disallowed the claim of deduction of interest under section 36(1)(iii) of the act. the contentions raised by the learned counsel, being devoid of merits, are hereby rejected.6. aggrieved by the aforesaid order passed by the learned commissioner (appeals), .....

Deputy Commissioner of Income Tax Vs. B.S.E.S. Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2008)113TTJ(Mum.)227

..... claimed proportionate amount in respect of donation paid to the school, during the relevant year which was allowed under the provisions of section 37(1) of the act. in view of the above background this expenditure incurred for improving working condition of area inhabited by the employees and others is allowable expenditure. we hold so.14 ..... accounting regularly employed by the assessee. with effect from 1st april, 1997, the legislature, vide section 145 of the act, has also empowered the central government to notify the accounting standard to be followed by any class of assessee or in respect of any class of income. ..... various contentions including the contentions raised before the ao were reiterated. after considering the same, the cit(a) observed that as per section 145(1) of the it act, 1961, income-tax chargeable under the head 'profits and gains of business or profession' is to be computed in accordance with either cash or mercantile system of .....

Prakash Heat Treatment and Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... 2004) 89 itd 44 (cal.), the calcutta bench of this tribunal has laid down two propositions: one, in view of section 14a inserted in the income tax act with retrospective effect from 1-4-1962, pro rata expenses on account of interest relatable to investment in shares for earning exempt income from dividend are to be disallowed ..... assessing officer shall determine the amount of expenditure incurred in relation to such income which does not form part of the total income under the income tax act in accordance with such method as may be prescribed, if the assessing officer, having regard to the accounts of the assessee is not satisfied with the correctness ..... to make investment in shares. therefore, dividend earned on shares is liable to be assessed as income from other sources under section 56 of the income tax act. learned. commissioner (appeals) has recorded a categorical finding that the assessee has failed to discharge his onus that interest paid on borrowings was used exclusively for .....

Reliance Industries Limited (a Company Incorporated Under the Provisio ...

Court : Mumbai

Reported in : 2009(111)BomLR2507

..... for andobtain all such governmental and regulatory approvals as are necessary on itsbehalf.(b)thedefinitive agreements will reflect that the mukesh ambani group will act inutmost gooddeliberatelymisquoted in the pleadings.deliberatelyomitted in pleadings.faithand will make best endeavors to work for and obtain such approvals. if thereis any ..... submitted that agreements for reorganizing corporate affairs may be entered into between promoters (like shareholders agreements). however, the present regime of the companies act as applicable to listed companies has checks and safeguards to ensure that any arrangements proposed by a promoter or promoters is duly scrutinized and implemented ..... is to the effect that the defendant can plead the contributory negligence of the plaintiff or of an employee of the plaintiff where the employee is acting in the course of employment. : 2004crilj1221 (assistant commissioner, assessmentii, bangalore and ors. v. velliappa textiles ltd. and ors.):16. the question .....

Board of Trustees of the Port of Mumbai Vs. Ramkrishna Shivaram Gadeka ...

Court : Mumbai

Reported in : 2004(4)BomCR653; 2004(4)MhLj438

..... the degree of such proof varies in respect of the two proceedings. in a criminal proceeding, charge is required to be proved without any doubt and strictly following the evidence act, whereas in a domestic enquiry and/or departmental proceeding preponderance of probability would suffice for determining the conduct of the delinquent. even if in identical fact situation, it is now ..... at the rate of 75% in spite of demand, the enquiry is vitiated. i find on perusal of the said judgment that in that case under industrial employment (standing orders) act, 1946 it is inter alia provided to make payment of the subsistence allowance at the rate of 75% and, there was a breach of the said standing order 10-a .....

Berlia Chemicals and Traders (P) Ltd. Vs. Asstt. Cit

Court : Mumbai

Reported in : (2002)76TTJ(Mumbai)974

..... intention was to make it retrospectively effective, it would have specified so in no uncertain terms as was done when explanation 8 was inserted by the finance act, 1986, with retrospective effect from 1-4-1974. the situation in the present case is clearly distinguishable from the one which was before the bombay high court ..... effect from 1-4-1968. in several cases, high courts have held that even for the purposes of determining chargeable profits under the companies (profits) surtax act, the gross amount of dividends should be excluded from the total income. the legislative intent could have only been to exempt from surtax the amount of dividends ..... court held that the exclusion, therefore, of such interest income could only be of that income which formed part of the total income 'computed under the income tax act. such income, therefore, must necessarily be the net income which formed part of the total income after making permissible deductions. this was made clear, the court held .....

Life Insurance Corporation of India Vs. Joint Cit

Court : Mumbai

Reported in : (2002)74TTJ(Mumbai)624

..... loans and advances' and 'securities' as understood in the commercial sense;(c) the definitions of 'government security' and 'promissory note' as defined in public debt act, 1944;(d) the economic considerations kept in view by the legislature.(5) we have also considered the commercial aspects that guide the investor in making investment decisions ..... securities are loans issued for public subscription. thus, interest on government securities is held to be includible in total interest under section 2(7) of the act.15. in para 9 commissioner (appeals) states that government loans, bonds, etc., are declared as securities for specific purposes so that a public charitable ..... and debentures are shown as investments by the assessee itself or under the directions of some authority or under the provisions of statutes like companies act or banking regulation act.10. in para 4.4, commissioner (appeals) after referring to certain judicial pronouncements observes that :(i) the words should be understood in .....

Forbes and Co Ltd and anr. Vs. the Official Liquidator of the Swadeshi ...

Court : Mumbai

..... 41 the applicants have stated in the affidavit in support that the company in liquidation is a public limited company incorporated and registered under the companies act vi of 1882 of the legislative council of india. its shareholding and activities are set out and admittedly the company was operating composite textile mills ..... this application be allowed.11 mr.tulzapurkar, learned senior counsel appearing on behalf of the applicants invites my attention to section 466(1) of the companies act, 1956 and submits that, the provision vests the company court with a discretion to permanently stay the winding up. by the application, the applicants have ..... court for winding up of the company. appeal preferred against the said order by rashtriya mill mazdoor sangh, a registered trade union the bombay industrial relations act, 1946 and also the representative and authorized union of the company before the appellate authority for industrial and financial reconstruction (aaifr) was also dismissed vide .....